Credit check before interview

[tarbera]

But that’s not my battle

I'm slightly confused as to why you're bothered whether or not a supplier passes a credit check.
Do you also run credit checks against the sales reps / delivery drivers / directors at your stationery suppliers and refuse to deal with any who fail?
Or do you believe that if they fail a credit check then they're going to start siphoning money off from the bank?

As someone said before, you are the client - the supplier is relying on you paying them. Should we look at the credit history of the client company, whether they have large debts owed, have defaulted in the past 5 years, etc...?

But that’s not my battle as i said, someone with 1 CCJ against them is no more risk than anybody else, but if it BANK POLICY that these people are refused a contract, we should weed them out before wasting everyones time

[Mephisto]

It's a joke this it really is and it's becoming another CV filtering excercise.

I was due to interview with the a very CO-OPerative financial institution and due to a small number of missed payments the year before I 'failed' their credit check and the interview was withdrawn.

With one automated drone policy they've decided whether I'm likely to screw them over and/or be cajoled into handing over all their precious secrets (which I wouldn't have had access to).

I should have sued for insinuated slander or somet

[ExPermie]

Probably a good idea to look at your own credit file because, as I've mentioned before, non finance application credit checks do not highlight missed payments. Only CCJs, DMPs, Bankruptcy type tulip gets flagged up!

When I write non finance application, I mean checks which are not for taking out loans/credit. Loan Application checks take into account debt leverage and repayment history which then produces a score to enable a decision.

I know of no place which uses scores for interview purposes?? Checks yes, but not full blown credit/debt/repayment history searches which are solely for lending decisions, not for employment decisions???

It's a joke this it really is and it's becoming another CV filtering excercise.

I was due to interview with the a very CO-OPerative financial institution and due to a small number of missed payments the year before I 'failed' their credit check and the interview was withdrawn.

With one automated drone policy they've decided whether I'm likely to screw them over and/or be cajoled into handing over all their precious secrets (which I wouldn't have had access to).

I should have sued for insinuated slander or somet

[PEEL]

It's a joke this it really is and it's becoming another CV filtering excercise.

It depends on what sector the client is. For financial services credit checks make sense. There is a higher risking 'employing' someone who misses payments and has trouble securing lines of credit, largely because they may attempt to be fraudulent in some way or other. The trader who cost UBS 2bn and a bit had gambling troubles in his personal life which may have been discovered through a credit check. It's not likely to happen, and it's not likely a credit check but prevent it, but regulators in the financial industry and really big on things like this at the moment.

[Mephisto]

Probably a good idea to look at your own credit file because, as I've mentioned before, non finance application credit checks do not highlight missed payments. Only CCJs, DMPs, Bankruptcy type tulip gets flagged up!

When I write non finance application, I mean checks which are not for taking out loans/credit. Loan Application checks take into account debt leverage and repayment history which then produces a score to enable a decision.

I know of no place which uses scores for interview purposes?? Checks yes, but not full blown credit/debt/repayment history searches which are solely for lending decisions, not for employment decisions???

Definitely happened - I still have the emails from the initial merry go round with Spring (agency).

What you say is very interesting. Is it possible it was a mistake and someone has hit the full check button? Is it that simple? I can't remember entirely but if it helps I think I was told it was a check akin to that used when assessing loan applications, mortgages etc.

[KentPhilip]

With 40% of the PM's/BA's I offered contracts to last year failing the credit check ...

That seems very high. Are you saying that 40% of contractors have CCJ's, are bankrupts, or have criminal records?
What other criteria, if any, would cause a credit check failure?

[eek]

That seems very high. Are you saying that 40% of contractors have CCJ's, are bankrupts, or have criminal records?
What other criteria, if any, would cause a credit check failure?

It could be a self selecting group of people due to the rate being low and a desire for them to break into banking (why you would want to I don't know nor understand)...

[ExPermie]

Definitely happened - I still have the emails from the initial merry go round with Spring (agency).

What you say is very interesting. Is it possible it was a mistake and someone has hit the full check button? Is it that simple? I can't remember entirely but if it helps I think I was told it was a check akin to that used when assessing loan applications, mortgages etc.

Even Letting Agents and also the likes of PowerChex like to think they have such power but they don't. However, what they can do (like anyone else can) is have a look to see if you have DMP, CCJs against you or are a Bankrupt.

Personally, I think you were led up the garden path. But get your credit file and make sure a missed payment didn't progress to a default and then to a CCJ.

I'm not sure how far they go for FSA Regulated roles so I could be talking tulip!

However, back in 2008 I had SC Clearance via the Metropolitan Police Authority, the 'security' chap who helped me fill out the forms told me not to worry about 'missed payments'............and I had loads of missed payments over a 6 year period back then! I was totally tulip with cash!

[tarbera]

Simples

That seems very high. Are you saying that 40% of contractors have CCJ's, are bankrupts, or have criminal records?
What other criteria, if any, would cause a credit check failure?

90% of people who failed just had 1 default (no ccj, no crimbo etc) 1 chaps ex-wife had the default but was in joint names, one chap changed banks and not all his DD were moved so a credit card firm was trying to take money from old account (the bank i was hiring him from admitted the mistake) but default was lodged and offer was withdrawn (we did try to escalate but every time it was a big fat no), another chap working for the bank in Amsterdam on Dutch contract for 3 years delivering project after project wanted to work for same bank in London, so we moved him to UK contract (he had atually been sitting in bank in UK working for 8 months we were just moving contract) - 1 default 6 years ago for £300 on a store card he forgot about, he lost a £200K a year contract and got kicked out also despite working for bank for 3 years.

[ExPermie]

1 default 6 years ago for £300 on a store card he forgot about, he lost a £200K a year contract and got kicked out also despite working for bank for 3 years.

Yep, I can believe that too! MSE forums is littered with folk who were declined mortgages because they forgot about hundreds of pounds on a store card etc.????

LOL!